European Central Bank

Discipline: Economics

Usually abbreviated as: ECB

The European Union institution that is the principal monetary authority of the eurozone. It was established by the Amsterdam Treaty (1997), and is located at Frankfurt, Germany.

THe European Central Bank makes and implements the eurozone monetary policy, sets the interest rates, promotes economic stability by tasks such as maintaining price stability through foreign exchange operations, holds currency reserves, and authorizes the issuance of euro, among other things.

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